what happens when.........?

In your situation (putting moral and possible criminal behavior of whoever failed to return the package to FedEx aside), I am afraid FedEx responsibility is limited to the price paid to ship the package. That is of course, unless insurance was bought as well. If insurance was bought, the shipper can claim the estimated value of package contents (up to the max amount of insurance purchased), as declared by shipper on claim form. If shipment was for a new item you ordered, that would be full purchase price, of course. But no, FedEx will not actually go out and buy you an equivalent item....

LEM.

P.S. What is this question doing in cameras category, anyway?

hmm many different things could happen

1. they could keep the box

2. they could return it to the local post office or they give it to the mail man/woman.

3. In my situation, I moved to a different state and had some boxes shipped to my new location. they messed up on the address so my boxes ended up being delieverd around the block from me. The people just left the boxes sitting outside their home waiting for the owners to retrieve them, which i did : )

people give it back to the post office